LOS ANGELES — Chicago-based 4S Bay Partners has purchased a 1.8-acre land parcel at 3701 W. Stocker St. in the Baldwin Hills Crenshaw Corridor of Los Angeles. Sticks Holdings LLC and an affiliate of Optimus Properties sold the asset for $24 million. James Daughrity of Daughrity Real Estate represented the buyer and seller in the deal.
The property is located in a designed Opportunity Zone with a transit-oriented development designation, which allows for pedestrian-friendly and community-serving uses. The parcel currently contains a 45,000-square-foot, four-story office structure, which was built in 1954. Additionally, the site is in proximity to the planned Metro Crenshaw/LAX light rail transit line.
The buyer previously purchased 3731, 3741, 3751 and 3761 W. Stocker St. all within the Baldwin Hills Crenshaw Corridor. Los Angeles-based Pantheon Business Consulting will manage the development of the sites.
Potential development plans include a multi-use film studio, entertainment campus and business incubator redevelopment project in line with 4S Bay Partners’ social impact and community development mission to increase economic development within underserved and urban communities.
According to 4S Bay, the project’s vision is to partner with creatives, thought-leaders and non-profits surrounding South Los Angeles to create economic opportunities and amplify storytelling about communities of color.